364
364
Oct 16, 2011
10/11
by
KNTV
tv
eye 364
favorite 0
quote 0
sales tax, you pay more in taxes. >> more people will pay less in taxes. more people will pay less in taxes. >> mr. cain, we talked to independent analysts ourselves. >> yes. >> we're not just reading newspaper clips here. >> i understand. >> they tell us they've looked at this based on what's available and it's incontrovertible. there are people who will pay more. >> that's right. some people will pay more. but most people will pay less is my argument. >> who will pay more? >> who will pay more? the people who spend more money on new goods. the sales tax only applies to people who buy new goods. not used goods. that's a big difference that doesn't come out. >> for those 30 million americans who don't pay income tax, including 16 million elderly americans, you concede they would, in fact, pay more. >> not the elderly. that's two different groups. let's talk about the elderly. you don't pay taxes on your social security income. it replaces the capital gains tax. many of the elderly make money off of their investments, they won't pay that. tax on dividends a
sales tax, you pay more in taxes. >> more people will pay less in taxes. more people will pay less in taxes. >> mr. cain, we talked to independent analysts ourselves. >> yes. >> we're not just reading newspaper clips here. >> i understand. >> they tell us they've looked at this based on what's available and it's incontrovertible. there are people who will pay more. >> that's right. some people will pay more. but most people will pay less is my argument....
0
0.0
Dec 20, 2017
12/17
by
KNTV
quote
eye 0
favorite 0
quote 1
when we tax businesses at higher tax rates than our foreign competitors are taxing theirs, we're losing and they're gaining. what's more important is american businesses are moving overseas. they're not even american companies anymore. this is a trend that has to be reversed. and we know that if we fix these tax laws, we will get reinvestment back in this economy. the anecdotes -- i will tell you every study under the sun shows us, you lower the tax rates, you will see growth in america. >> a lot of people will be counting on that and hoping for that outcome. you have a long time budget hawk. i remember you in 2012, doing campaign events in front of that deficit clock. and it's estimated this tax cut is going to cost $1.46 trillion more to the deficit. i know the theory is, if you have more tax growth, you get more revenues into the coffer and that reduces the deficit. let me put a fine point on it. are you saying that the growth you're going to get from the tax cut will equal the amount it would cost on the deficit side so it's a wash? so you're not adding to the deficit at all because
when we tax businesses at higher tax rates than our foreign competitors are taxing theirs, we're losing and they're gaining. what's more important is american businesses are moving overseas. they're not even american companies anymore. this is a trend that has to be reversed. and we know that if we fix these tax laws, we will get reinvestment back in this economy. the anecdotes -- i will tell you every study under the sun shows us, you lower the tax rates, you will see growth in america....
178
178
Sep 23, 2012
09/12
by
KNTV
tv
eye 178
favorite 0
quote 1
that's a tax. 220 million people in this country pay consumption and other taxes, that's a tax. 110 million households pay property tax. that's a tax. the issue is not that people aren't paying taxes, the issue is our tax system needs fundamental reform and he's not addressing it. we need a tax consumption and reduce the taxes on labor, the payroll tax. >> has the president addressed these issues? >> no. >> it feels like the president isn't answering questions either about the issues important to the american people, like job creation. >> i agree. the two parties are now simply engaged in a war of talking points in an artificial debait about hot buttons they can press in ordered to mobilize this or that constituency. sgluf an intriguing idea. you are in favor of a national consumption tax. like a value added tax to replace taxes on corporations. what are you saying? that corporate taxes go away entirely and then you come up with this vat tax? >> i think we need a vat. >> isn't it shifting from corp
that's a tax. 220 million people in this country pay consumption and other taxes, that's a tax. 110 million households pay property tax. that's a tax. the issue is not that people aren't paying taxes, the issue is our tax system needs fundamental reform and he's not addressing it. we need a tax consumption and reduce the taxes on labor, the payroll tax. >> has the president addressed these issues? >> no. >> it feels like the president isn't answering questions either about the...
62
62
Jul 20, 2014
07/14
by
KNTV
tv
eye 62
favorite 0
quote 0
no property tax, no business tax and no sales tax. which means more growth for your business and more jobs. it's not just business as usual. see how new york can help your business grow at start-. >>> the first thing we're going to do is weigh out the coffee, 30 grams. >> with specialty coffee it's all about the craft. precision -- retail -- and flavor. make your coffee about more than the daily grind. >> it's the bloom. >> and consumers are buying it. specialty producers maintain 37% volume share but 50% value share of american coffee cups. so as coffee transitions from the best part of waking up to an affordable luxury, brett smith joins us, president and cofounder of counter culture coffee as a national wholesaler roaster of craft coffee. brett, thanks for being here. >> thanks for having me. >> looking at the numbers more than 60% of americans drink coffee every day more than any other beverage besides water. where does specialty or craft coffee fit into that? >> well, it's really over the last 10 or 15 years it's becoming a bigge
no property tax, no business tax and no sales tax. which means more growth for your business and more jobs. it's not just business as usual. see how new york can help your business grow at start-. >>> the first thing we're going to do is weigh out the coffee, 30 grams. >> with specialty coffee it's all about the craft. precision -- retail -- and flavor. make your coffee about more than the daily grind. >> it's the bloom. >> and consumers are buying it. specialty...
76
76
Apr 5, 2015
04/15
by
KNTV
tv
eye 76
favorite 0
quote 0
. >> the only problem we have is the city tax. there is case law and guys in federal prison right now, because they paid a tax onkstax, they are in prison. >> he fears it would confirm his sale of an illegal drug. >> this is our indoor facility where we grow our medicine. >> reporter: he believes he doesn't owe the tax because he is running what he calls a close looped collective. >> these are just the samples of what is in the bowls. >> reporter: growing it to his customers, he says they're not customers and growing the pot is an equitable contribution and not a sale. >> are you paying taxes for the city right now? >> we are not. >> reporter: dave hodges owns the american cannabis club. >> well she is a little misinformed. that is a conversation i'm going to have to have when i get back to the shop. >> reporter: the truth is the all-american cannabis club has not paid taxes. david hodges has been non-compliant for four and a half years, in inunpaid taxes and penalties. >> i want to pay sales taxes, but when i do i admit i'm selli
. >> the only problem we have is the city tax. there is case law and guys in federal prison right now, because they paid a tax onkstax, they are in prison. >> he fears it would confirm his sale of an illegal drug. >> this is our indoor facility where we grow our medicine. >> reporter: he believes he doesn't owe the tax because he is running what he calls a close looped collective. >> these are just the samples of what is in the bowls. >> reporter: growing it...
49
49
Nov 10, 2017
11/17
by
KNTV
tv
eye 49
favorite 0
quote 0
tax. if they succeed, it would be a windfall for ultra rich families who pass on their wealth to their children. basically, republicans want to eliminate tax credits for old people and students so donald trump can leave even more money to the mean kids from every john hughes movie. [ laughter ] how could republicans possibly justify that? here is commerce secretary wilbur ross' argument. >> small business is also impacted by another reform that the president intends to put in, and that's the repeal of the death tax. it's bad enough to have to die, you shouldn't be fined for doing so. >> seth: yeah. [ laughter ] and take it from a guy who from the looks of him, has already paid that fine. [ laughter and applause ] "i can't tell you, how jarring it was for me after my death to get my tax bill. now, if you'll excuse me, i'm going to go back to my coffin." [ laughter ] so after a week in which their party was trounced at the polls, republicans are defiantly finally rushing headlong into a tax
tax. if they succeed, it would be a windfall for ultra rich families who pass on their wealth to their children. basically, republicans want to eliminate tax credits for old people and students so donald trump can leave even more money to the mean kids from every john hughes movie. [ laughter ] how could republicans possibly justify that? here is commerce secretary wilbur ross' argument. >> small business is also impacted by another reform that the president intends to put in, and that's...
169
169
Jul 16, 2012
07/12
by
KNTV
tv
eye 169
favorite 0
quote 0
taxes. we compiled a list of former presidents, and the average of the tax returns they released over the years, you can go from president obama, mccain, kerry, bush, a lot more than the two years that mitt romney is proposing to release. why not be more of an open book and release more tax returns, as his father did? as previous presidential candidates have done? >> as you know, the standard of releasing fully two years of returns, which goes above what the law requires, was a standard that senator john mccain had adhered to as the republican nominee in the last presidential campaign. it's the same as senator kerry adhered to with the democratic nominee in the election before that. and the fact is, that governor romney is putting -- has put out already 2010 and will put out 2011 before this election. so, you know, very transparent. it's ironic coming from a white house that has proven itself to be not transparent in its policies, and for example why they're hiding behind claims of executive
taxes. we compiled a list of former presidents, and the average of the tax returns they released over the years, you can go from president obama, mccain, kerry, bush, a lot more than the two years that mitt romney is proposing to release. why not be more of an open book and release more tax returns, as his father did? as previous presidential candidates have done? >> as you know, the standard of releasing fully two years of returns, which goes above what the law requires, was a standard...
22,965
23K
Nov 27, 2011
11/11
by
KNTV
quote
eye 22,965
favorite 0
quote 1
he believes that raising this tax -- or letting this tax expire does not violate the pledge that people signed, even though raising the bush tax cuts, letting those expire would. it's hard to understand the logic of saying one is a tax increase and one isn't. >> so you predict passage? >> well, i would hope we would pass it. i think it's very hard for republicans to vote against it given their past history of defending the tax cuts for the wealthiest among us. if they don't, if it doesn't pass once, we're going to put it on the floor again and again, and we would be open to other ideas of paying for it if this one fails. >> the other prospect is unemployment benefits. emergency unemployment benefits that would expire at the end of the year. would you push for those to be extended, as well? >> yes, those are very, very important. the economists tell us that unemployment benefits give the most bang for the buck to get this economy going. because, obviously, unemployed people don't have much other money and they spend it and pump the money into the economy. that's essential. and it's also
he believes that raising this tax -- or letting this tax expire does not violate the pledge that people signed, even though raising the bush tax cuts, letting those expire would. it's hard to understand the logic of saying one is a tax increase and one isn't. >> so you predict passage? >> well, i would hope we would pass it. i think it's very hard for republicans to vote against it given their past history of defending the tax cuts for the wealthiest among us. if they don't, if it...
867
867
Dec 21, 2015
12/15
by
KNTV
quote
eye 867
favorite 0
quote 2
cutting taxes, it's not raising taxes. so the point i would make is this is not a tax cut as much as tax certainty: >> let me move to your relationship with president obama. you've been in seven weeks. what can you get done? >> criminal justice reform is one area. getting the appropriations process back on track. >> trade? >> we'll see when we can get that done but that's one thing. we're looking at that. >> that's something you will work with the white house on? >> i haven't made my mind up. i haven't read the entirety of the agreement yet but that's something conceivably that could be done. he's not on the ballot again. there will be other people on the ballot again but i believe the president has succeeded in transforming this country in a direction that it was never supposed to go in the first place. >> you came down hard on donald trump on muslims. you said "this is not conservatism. what was proposed is not what this party stands for and what this country stands for." in many ways you gave cover from other republican
cutting taxes, it's not raising taxes. so the point i would make is this is not a tax cut as much as tax certainty: >> let me move to your relationship with president obama. you've been in seven weeks. what can you get done? >> criminal justice reform is one area. getting the appropriations process back on track. >> trade? >> we'll see when we can get that done but that's one thing. we're looking at that. >> that's something you will work with the white house on?...
162
162
Dec 12, 2010
12/10
by
KNTV
tv
eye 162
favorite 0
quote 0
of the tax. it's just not fair. something else. you cannot say you are concerned about the deficit and support giving giant tax cuts on the estates of billionaires or giant tax cuts to millionaires. it's inconsistent. you fight for the values. today, with a mantle in the house, majority in the senate and we control the presidency and we're acting like we have a weak hand. we have the right side of the issues and the numbers and i don't know -- >> it's the question of timing. why it is the president put himself in this position to have to negotiate out of such weakness. what's going to be different in 2012, another political year, to make him think he will prevail in this argument? >> you heard austan goolsbee make the argument, the economy will be in a better position. they are banking everything on that because they think they'll say now we can afford to see those tax rates rise on the wealthiest americans. one of the most potent arguments against letting those wealthiest americans tax cuts expi
of the tax. it's just not fair. something else. you cannot say you are concerned about the deficit and support giving giant tax cuts on the estates of billionaires or giant tax cuts to millionaires. it's inconsistent. you fight for the values. today, with a mantle in the house, majority in the senate and we control the presidency and we're acting like we have a weak hand. we have the right side of the issues and the numbers and i don't know -- >> it's the question of timing. why it is the...
78
78
Sep 22, 2014
09/14
by
KNTV
tv
eye 78
favorite 0
quote 0
tax cuts, and taxes, can you use it for economic growth or if not, in either way? >> well, i mean, of course. there is all sorts of situations, but, look, you need to take this, and i'm not talking about kansas here anymore although i could talk about it for hours and wrote about it today on salon. >> calling it brownbackistan. >> and we have that and the weird strip club story. and the wizard of oz. >> and this is so ridiculous it is on television, because it is something that happened in the 199 o. 0s and he was not married yet and a lawyer -- >> well, it was the reaction to the police. >> and that is not what i want to talk about. >> okay. point taken. >> and seriously, grover, the tax issue, you have to think of it in the grander terms of the problem that we are facing in the country, and the problem in america is not overreaching america in the big freedom, but this country is sliding into oligarchy and president obama talking about the inequality and talking about the top one percent and what they are take home, and taxes are one of the ways that the ancestor
tax cuts, and taxes, can you use it for economic growth or if not, in either way? >> well, i mean, of course. there is all sorts of situations, but, look, you need to take this, and i'm not talking about kansas here anymore although i could talk about it for hours and wrote about it today on salon. >> calling it brownbackistan. >> and we have that and the weird strip club story. and the wizard of oz. >> and this is so ridiculous it is on television, because it is...
146
146
Nov 28, 2011
11/11
by
KNTV
tv
eye 146
favorite 0
quote 0
raising taxes slows the economy. raising taxes kills jobs. government spending does not create jobs. the idea that if you take a dollar out of the economy and then -- from somebody who earned it, either through debt, or through taxes, and give it to somebody that's politically connected, that there are more dollars around, but if you stand on one side of the lake and put a bucket into the lake, and walk around to the other side in front of the tv cameras, pour the bucket back into the lake and announce you're stimulating the lake to great depth, we just wasted $800 billion on stimulus spending that added to debt, that killed jobs. >> but the notion that tax cuts or tax increases somehow impact economic growth, we know historically that's simply not the case. president clinton raised taxes during boom times. president bush lowered taxes, did not spur great job creation. isn't that one of the falsehoods that peddles in washington? >> no. if you take a look at when you cut marginal tax rates, the strong growth in the last six years of the '90s s
raising taxes slows the economy. raising taxes kills jobs. government spending does not create jobs. the idea that if you take a dollar out of the economy and then -- from somebody who earned it, either through debt, or through taxes, and give it to somebody that's politically connected, that there are more dollars around, but if you stand on one side of the lake and put a bucket into the lake, and walk around to the other side in front of the tv cameras, pour the bucket back into the lake and...
120
120
Apr 18, 2011
04/11
by
KNTV
tv
eye 120
favorite 0
quote 0
why is taxing the rich so hard? americans know we're all going to feel the cuts and what our government can do, no matter what plan is signed. why is ending the bush tax cuts for the wealthy a stumbling block? ending the tax cuts would bring $700 billion over the next 10 years, that's substantial. roughly the same amount obama would get from all his domestic spending cuts. the top tax rate now is 35%. but back in the new deal in the 1930's, it was 79%. understand ike in the 1950's it was 91%. under richard nixon, the top rate was 70%. then things began to come down under reagan, when the top rate was 50%. under george w. bush, down to 35%, where it is. becky, what is this historically low? why is it so hard for the congress, when they get together, to actually raise the top rates back up a bit for the rich? >> because the tax code is a mess right now. if you look at all the deductions that have been taken, if you look at all the loopholes that people and corporations can slide out of, it's a complete mess. chris: wh
why is taxing the rich so hard? americans know we're all going to feel the cuts and what our government can do, no matter what plan is signed. why is ending the bush tax cuts for the wealthy a stumbling block? ending the tax cuts would bring $700 billion over the next 10 years, that's substantial. roughly the same amount obama would get from all his domestic spending cuts. the top tax rate now is 35%. but back in the new deal in the 1930's, it was 79%. understand ike in the 1950's it was 91%....
31
31
Apr 5, 2021
04/21
by
KNTV
tv
eye 31
favorite 0
quote 1
it's a tax bill. when you ask folks the question, do you think people making over $400,000 a year should pay more in taxes? sure. do you think corporations should pay more in taxes? sure, i support that. at the end of the day it's how politicians define it. the biggest challenge right now for the biden administration is what secretary buttigieg put forward. this is a generational issue, this isn't just a short-term political gain. in politics, we live in the short term and not defined by generational, in large part because the voters don't trust that politicians can deliver on this. chuck, has been thus far, people were getting tangible things. they got money in their bank account and they're seeing vaccines going into people. this is going to take a long time to get through which gives republicans a long time to define it by taxes. >> rich lowry, what is the risk here? republicans are going to make the tax argument, and there's a comfortable place for the party, mostly a unifying issue in many ways.
it's a tax bill. when you ask folks the question, do you think people making over $400,000 a year should pay more in taxes? sure. do you think corporations should pay more in taxes? sure, i support that. at the end of the day it's how politicians define it. the biggest challenge right now for the biden administration is what secretary buttigieg put forward. this is a generational issue, this isn't just a short-term political gain. in politics, we live in the short term and not defined by...
147
147
Nov 26, 2012
11/12
by
KNTV
tv
eye 147
favorite 0
quote 0
the use of tax havens to avoid paying taxes in this country is an outrage. we can end it. there's tens of billions of dollars a year involved in closing those kinds of offshore loopholes. >> i'm going to leave it there. senator levin, thank you for being here. hope you had a good holiday. >>> i want to turn to the republican side. peter king of new york. congressman, hope you had a good holiday. good to see you this morning. >> i had a great holiday, especially because notre dame beat southern cal. >> my poor step dad. he is not so happy this morning. >> i don't care about him. >> let me continue on the issue of taxes because this is important. and as i say, it's going to be the defining issue. you hear republican saxby chambliss say it's not going to govern what i do. norquist saying he promised the people of georgia that he would reform the government rather than raise taxes. where do you stand on the pledge? can this be overcome? with revenues be raised? >> first of all, i agree with chambliss. a pledge you signed 20 years ago, 18 years ago, is for that congress. for in
the use of tax havens to avoid paying taxes in this country is an outrage. we can end it. there's tens of billions of dollars a year involved in closing those kinds of offshore loopholes. >> i'm going to leave it there. senator levin, thank you for being here. hope you had a good holiday. >>> i want to turn to the republican side. peter king of new york. congressman, hope you had a good holiday. good to see you this morning. >> i had a great holiday, especially because...
331
331
Mar 30, 2013
03/13
by
KNTV
tv
eye 331
favorite 0
quote 0
i'm rashia, the queen of irs tax fraud. i'm a millionaire for the record so if you think indicting me will be easy, it won't. but her and her boyfriend were among the rare ones indicted. they raked in more than $1 million, filing over 220 tax returns, and they flaunted it. police seized this custom made camaro filmed by riding clean magazine. every rim police say paid for at taxpayer's expense. and all while wilson was receiving public assistance. wilson and larry have plead not guilty if convicted, they each could face more than a decade in prison. >> do you think there was a sense among criminals they weren't really stealing from anyone in particular, just getting free government money? >> yeah, it wasn't like they came up to you, put a gun in your face and took the money out of your pocket. it was just somebody's name, somebody's social security number a, ally, what's the big deal? >> reporter: but they are holding up the federal government senior. >> sure, they are. yeah, they are robbing us blind. >> this is an incredi
i'm rashia, the queen of irs tax fraud. i'm a millionaire for the record so if you think indicting me will be easy, it won't. but her and her boyfriend were among the rare ones indicted. they raked in more than $1 million, filing over 220 tax returns, and they flaunted it. police seized this custom made camaro filmed by riding clean magazine. every rim police say paid for at taxpayer's expense. and all while wilson was receiving public assistance. wilson and larry have plead not guilty if...
248
248
Oct 17, 2011
10/11
by
KNTV
tv
eye 248
favorite 0
quote 0
it is to have a 9% corporate income tax. 9% personal income tax. 9% sales tax. everything else is gone. >> yes. >> the reality of the plan is that some people pay more, some people pay less. this is how "the washington post" reported it on friday, we'll put it up on the screen. experts see surprise in cain's 9-9-9 plan. the 9-9-9 plan that has helped propel businessman cain to the front of the gop presidential field would stick many poor and middle-class people with a hefty tax increase while cutting taxes for those at the top, tax analysts say. robert and williams, a senior fellow at the nonpartisan tax policy center is working on an analysis of cain's signature oposal. although the plans's details remain sketchy, williams said it would increase taxes for the poor and middle class, despite cain's statemen to the contrary. for starters, about 30 million of the poorest households pay neither income taxes nor social security or medicare levees, so for them, he says, doing away with the payroll tax doesn't save anything and you're adding both a 9% sales tax and a 9
it is to have a 9% corporate income tax. 9% personal income tax. 9% sales tax. everything else is gone. >> yes. >> the reality of the plan is that some people pay more, some people pay less. this is how "the washington post" reported it on friday, we'll put it up on the screen. experts see surprise in cain's 9-9-9 plan. the 9-9-9 plan that has helped propel businessman cain to the front of the gop presidential field would stick many poor and middle-class people with a...
91
91
Jun 10, 2012
06/12
by
KNTV
tv
eye 91
favorite 0
quote 0
what should tax policy look like? >> first of all, a minimum tax of 30% is not all that high. if you look at the percentage of gdp going to taxes in america, compared to every other wealthy country in the world, there are only -- of the top 31 countries i think we're 29th in the percentage of total tax take. as a whole in the country, our tax rates are not out of line. and what -- the problem in having this conversation now is, when i was president, we had a booming economy. most people didn't resent those tax rates. keep in mind, even middle income people are paying slightly higher taxes when i was president, everybody was. >> so what is your idea to get this economy back on track? i mean, everybody wants to hear what you have to say. you oversaw an economy during the best of times. the last president to balance our budget. >> i think -- in the country, you've got this european thing is having a bigger impact than people know. >> how much is europe and how much are the president's policies? >> the thing that's cost jobs here has been degrees' policies. if congress had enacted
what should tax policy look like? >> first of all, a minimum tax of 30% is not all that high. if you look at the percentage of gdp going to taxes in america, compared to every other wealthy country in the world, there are only -- of the top 31 countries i think we're 29th in the percentage of total tax take. as a whole in the country, our tax rates are not out of line. and what -- the problem in having this conversation now is, when i was president, we had a booming economy. most people...
101
101
Nov 15, 2010
11/10
by
KNTV
tv
eye 101
favorite 0
quote 0
but the middle income tax credits, the families, the child tax credits, the marriage tax credits, all those i would keep. >> that's exactly what president obama says. >> is there a statute of limitations? the economic situation is vastly different today. we are in the midst of the greatest recession in the history of this country since the great depression. it is not the time to raise anyone's taxes. and, by the way, also along with that statement, i said we have to restrain spending, and spending was way out of control at that time. i said, otherwise, we're facing massive deficits and that's what happened. >> should tax cuts on the wealthiest americans only be extended for a temporary period and only if there are corresponding spending cuts? >> i think they should be extended until we're out of this recession. at such time, we could look at other tax hikes. but in this serious recession, i cannot believe that raising taxes is a good thing on anybody. >> is the tax commission a nonstarter, a good starter or something else? >> i think it's a starter. if they don't get the 14 members, a
but the middle income tax credits, the families, the child tax credits, the marriage tax credits, all those i would keep. >> that's exactly what president obama says. >> is there a statute of limitations? the economic situation is vastly different today. we are in the midst of the greatest recession in the history of this country since the great depression. it is not the time to raise anyone's taxes. and, by the way, also along with that statement, i said we have to restrain...
168
168
Oct 1, 2017
10/17
by
KNTV
tv
eye 168
favorite 0
quote 0
income tax cut. >> that is true. >> because the estate tax is a tax benefit to the wealthy, correct? >> the estate tax also known as the death tax, okay, we believe that people should pay taxes once and not twice. so i separate the income tax system from the estate tax system. the purpose of getting rid of the state tax is so people who have farms and family businesses can continue to pass those on. >> so does anybody pay more? >> again, we'll go through the details. as we have them, we'll have full transparency, but the president's been very clear and i've been clear from the beginning. our objective is not to create tax cuts for the wealthy. our objective is about creating middle income tax cuts. the other thing is to eliminate lots and lots of deductions. and this is subsidizing the states. this will have different impacts. the goal is a lot of this came through the the estate taxes. target the wealthy in blue states. >> not at all, that's absolutely not fair. i would say about tax reform, it hasn't been done in 30 years. we're focussed on changing the system. the system's broken.
income tax cut. >> that is true. >> because the estate tax is a tax benefit to the wealthy, correct? >> the estate tax also known as the death tax, okay, we believe that people should pay taxes once and not twice. so i separate the income tax system from the estate tax system. the purpose of getting rid of the state tax is so people who have farms and family businesses can continue to pass those on. >> so does anybody pay more? >> again, we'll go through the...
209
209
Aug 8, 2010
08/10
by
KNTV
tv
eye 209
favorite 0
quote 0
if they want to keep all the tax cuts they might be pressed into extending some tax cuts. tough for republicans to do. chris: but if nothing is done, the democrats can say it's the re publicans cutting their taxes. >> some are very wary of this. they understand what john is saying on the politics and erin is saying on the fiscal side but they're scared. chris: what's their fear? >> that a two or three-week debate about taxes is going to -- chris: going to help republicans? >> in part, because the spending has made obama unpopular with some. there are at least three democratic senators, conrad, bayh, and ben nelson, who said they will not vote to let the tax cuts expire even on the wealthy. that makes it procedurally more complicated. talking to them late in the week i'm not convinced that they're hungry to have this keebt -- debate in the senate. the senate democrats scared tv and may try to put it off until after the election. >> you comp the stock market if new york all the time. what's the excuse me --sumption? that the tax cuts are going to continue or to die? >> they'
if they want to keep all the tax cuts they might be pressed into extending some tax cuts. tough for republicans to do. chris: but if nothing is done, the democrats can say it's the re publicans cutting their taxes. >> some are very wary of this. they understand what john is saying on the politics and erin is saying on the fiscal side but they're scared. chris: what's their fear? >> that a two or three-week debate about taxes is going to -- chris: going to help republicans? >>...
108
108
Sep 6, 2010
09/10
by
KNTV
tv
eye 108
favorite 0
quote 0
we don't tax too little. we spend too much. >> is there room on tax cuts? if he extends the tax cuts for a period of a couple of years would that be able to attract republican support? >> it might. there is room to compromise on the death tax. in january it goes back to 55% and at the end of this year it's at zero. maybe you could find a way to compromise on the death tax to have something below 55%. $5 or $6 million exemption for american families that would prevent devastation to small business and family farms. the idea of increasing taxes now makes no sense to most people. the president and his democratic colleagues have increased the deficit and the role of federal government. everything has been so partisan. there was a bipartisan bill on health care. that was rejected. senator mccain had a $450 billion stimulus bill. we didn't go down any of these compromise roads. just big government and more spending and democrats don't have a whole lot to talk about going into november other than more debt and more government. >> let's talk about november and let'
we don't tax too little. we spend too much. >> is there room on tax cuts? if he extends the tax cuts for a period of a couple of years would that be able to attract republican support? >> it might. there is room to compromise on the death tax. in january it goes back to 55% and at the end of this year it's at zero. maybe you could find a way to compromise on the death tax to have something below 55%. $5 or $6 million exemption for american families that would prevent devastation to...
31
31
May 3, 2021
05/21
by
KNTV
tv
eye 31
favorite 0
quote 0
they're talking about raising the taxes five times higher than the taxes were cut in 2017. this makes america not competitive around the world. everybody thought that was important at the time. my decision was, in large measure, a personal one. i've been doing this off and on for 30 years, working in four administrations, in congress in both the house and the senate. i'm going to stay involved. for the next couple years, i'll be very engaged in trying to make sure on a bipartisan bases we get things done for the american people and not continue the partisan fights, but figure out how to find that common ground. i think we can. infrastructure is a great example. it's always been bipartisan in the past. republicans proposed the biggest infrastructure plan in the history of congress just last week. we're ready to go. we want to roll up our sleeves and get to work and make america's economy more competitive, not by raising taxes, but by expanding infrastructure. >> senator rob portman, republican from ohio. thanks for coming on. it's nice to have policy exchanges between you, s
they're talking about raising the taxes five times higher than the taxes were cut in 2017. this makes america not competitive around the world. everybody thought that was important at the time. my decision was, in large measure, a personal one. i've been doing this off and on for 30 years, working in four administrations, in congress in both the house and the senate. i'm going to stay involved. for the next couple years, i'll be very engaged in trying to make sure on a bipartisan bases we get...
58
58
Jul 18, 2012
07/12
by
KNTV
tv
eye 58
favorite 0
quote 0
now, this is called the vehicle miles traveled tax, for short, vmt, the vmt tax. the average bill would equal about $1,300 a year. a drive from san jose state to at&t park in san francisco would cost $4.95. a trip from jack london square in oakland to the golden gate would run you $1.66. now, every driver we've talked to today says this is not the answer to reducing traffic and pollution, which is the proposal's goal. >> it's one thing if you live in europe or new york or philadelphia, where you have public transportation, but the bay area you have to drive. i think in some places it might work, but here it would be difficult. >> that's ridiculous. that's -- that's too much money. gas is already expensive, and then that would be way too much money. >> reporter: now, all drivers would be subject to this tax, except for those deemed low income. and the miles would be tracked bay gps device that would have to be -- we'd all have to put inside our vehicle. now, the metropolitan transportation commission is spearheading the proposal and according to the "mercury news,"
now, this is called the vehicle miles traveled tax, for short, vmt, the vmt tax. the average bill would equal about $1,300 a year. a drive from san jose state to at&t park in san francisco would cost $4.95. a trip from jack london square in oakland to the golden gate would run you $1.66. now, every driver we've talked to today says this is not the answer to reducing traffic and pollution, which is the proposal's goal. >> it's one thing if you live in europe or new york or...
207
207
Nov 1, 2015
11/15
by
KNTV
tv
eye 207
favorite 0
quote 0
colorry high taxes on marijuana and very low taxes on alcohol. so, it's not like people aren't still buying--that alcohol sales aren't still much more than marijuana sales. sam: in fact, alcohol sales in colorado are still much higher than pot, one reason why the mpp says it's not including general sales taxes in its calculations. maybe there's more money being generated from alcohol if you were to include the general sales tax too. lauren: overall, it's just that the specific special taxes levied on marijuana versus alcohol, they are higher from marijuana. we are generating more revenue from marijuana than alcohol. sam: or, another way to state the bottom line, colorado is generating more revenue from marijuana-specific taxes than alcohol taxes. but alcohol is still likely bringing the state more money. so, the claim is only partly true. and as you probably know, california right now gearing up for its own policy debate over recreational marijuana. the issue is expected to be on the ballot in 2016. we'll continue to follow that story and fact-ch
colorry high taxes on marijuana and very low taxes on alcohol. so, it's not like people aren't still buying--that alcohol sales aren't still much more than marijuana sales. sam: in fact, alcohol sales in colorado are still much higher than pot, one reason why the mpp says it's not including general sales taxes in its calculations. maybe there's more money being generated from alcohol if you were to include the general sales tax too. lauren: overall, it's just that the specific special taxes...
203
203
Apr 18, 2011
04/11
by
KNTV
tv
eye 203
favorite 0
quote 0
on the tax side, if you look at the way our tax code is structured -- and it's a broken tax code -- we spend hundreds of billions of dollars a year on special tax expenditures, special tax breaks that go to just the top, the wealthiest americans. so, we have plenty of room in this tax code that will result in just a modest increase in the burden on the most fortunate. and if we do that, along with other spending cuts, we can preserve the commitments we made to our seniors, to the disabled, to the poor, and we can still make sure we're investing in education. >> but the president has said that paul ryan's plan is not a serious plan. he's basically said no way, no how on we newing the bush-era tax cuts, and you're talking about working parallel tracks and getting something done. hasn't he completely poisoned the well? look at what happened two weeks ago. >> what we're going to do is what's good for the economy. and we all recognize -- and of course, the president and republican leadership understands this -- that we have to do this together. there's no way -- >> but how do you do that, m
on the tax side, if you look at the way our tax code is structured -- and it's a broken tax code -- we spend hundreds of billions of dollars a year on special tax expenditures, special tax breaks that go to just the top, the wealthiest americans. so, we have plenty of room in this tax code that will result in just a modest increase in the burden on the most fortunate. and if we do that, along with other spending cuts, we can preserve the commitments we made to our seniors, to the disabled, to...
115
115
Jul 31, 2011
07/11
by
KNTV
tv
eye 115
favorite 0
quote 0
we have a payroll tax looming, by the way, that would expire next year, about $1,000 tax increase on each american if we don't pass it. so, we've got to get through this debt ceiling for a lot of reasons, but the focus in washington has to go back to creating jobs and how we're going to grow this economy. >> before you go, you are the president's top political adviser. as you look at what washington has done, essentially a failure to govern, do you now think a third party is a viable alternative in the 2012 race? >> well, that will be up to the american people. here's what i would say -- >> you're the expert inside the white house. >> well, i can speak to this. most americans believe that the president has tried to tackle tough problems. i think they're clear that here is a president who is willing to do some tough things, that bviously, we took somecc1: criticism from our own party on. so, he walked the walk in terms deficit. solve thecc1: someone who's clearly been willing to compromise. and what's interesting is the president last monday night in a speech to the nation and again f
we have a payroll tax looming, by the way, that would expire next year, about $1,000 tax increase on each american if we don't pass it. so, we've got to get through this debt ceiling for a lot of reasons, but the focus in washington has to go back to creating jobs and how we're going to grow this economy. >> before you go, you are the president's top political adviser. as you look at what washington has done, essentially a failure to govern, do you now think a third party is a viable...
3,399
3.4K
Sep 26, 2010
09/10
by
KNTV
tv
eye 3,399
favorite 0
quote 2
don't raise taxes on job creators. >> let me ask you a question about tax cuts or tax hikes. you say in the pledge to america, you want to bring spending down to 2008 levels which you well know is not enough to tackle the deficit, even if you bring it down to 2008. so the question for you and congressman van hollen, how can you rule out tax hikes as we move forward if you want to get serious about tackling the deficit? >> number one, i think you rule out tax increases because our problem isn't that the american people are taxed too little. our problem is that washington spends too much. in the pledge to america, we call for cutting discretionary spending to prestimulus, prebailout levels. cutting the amount of funding allocated to congress, freezing all pay on nonsecurity federal employees, ending federal control of freddie mae ac and fannie mae. that would save $1 trillion in ten years alone. reducing the discretionary limits, that would save $100 billion this year. >> that doesn't tackle the deficit completely. congressman van hollen, the question for you and democrats, can
don't raise taxes on job creators. >> let me ask you a question about tax cuts or tax hikes. you say in the pledge to america, you want to bring spending down to 2008 levels which you well know is not enough to tackle the deficit, even if you bring it down to 2008. so the question for you and congressman van hollen, how can you rule out tax hikes as we move forward if you want to get serious about tackling the deficit? >> number one, i think you rule out tax increases because our...
137
137
Aug 22, 2010
08/10
by
KNTV
tv
eye 137
favorite 0
quote 0
those taxes would go up. what are you prepared to do to pay for an extension of tax cuts for everybody? >> this has been tax law in america for almost ten years now existing tax law. what the administration is proposing and majority in the house and senate is to raise taxes on the top two brackets, which will affect 50% of small business income and impact 25% of the workforce. for example, if you look at the last quarter of last year, 84% of the jobs that were lost were lost in small business. i think it is outrageous to suggest that raising taxes in the middle of a recession is a good idea. >> point taken. senator, my question is, how do you pay for an extension of tax cuts. if you are concerned as republicans say they are about cutting spending and the deficit, you have to acknowledge that tax cuts are not paid for. >> what are you talking about paid for? this is existing tax policy that's been in place for ten years. they are talking about raising taxing, impacting 50% of small business income in the middl
those taxes would go up. what are you prepared to do to pay for an extension of tax cuts for everybody? >> this has been tax law in america for almost ten years now existing tax law. what the administration is proposing and majority in the house and senate is to raise taxes on the top two brackets, which will affect 50% of small business income and impact 25% of the workforce. for example, if you look at the last quarter of last year, 84% of the jobs that were lost were lost in small...
103
103
Oct 17, 2010
10/10
by
KNTV
tv
eye 103
favorite 0
quote 0
who raised the gas tax as governor, and pushed for higher sales taxes? jerry brown. who tried five times to raise property taxes in oakland? jerry brown. who supported higher statewide income taxes? jerry brown. and who says, if elected, he'll ask voters for even more new taxes? jerry brown. governor jerry brown, again? hide your wallet. >>> well, when it comes to extending the bush tax cuts, george soros is one billionaire who says, no thank you. the investing legend famously liberal in his politics, and recently i asks him about the need for government stimulus to kick start the economy. >> the session has been shorter and shallower than it would have been with the old countries cooperating and providing stimulus. it really worked. so you had the rebound, but now with the stimulus running out and all of this rhetoric about the balancing budgets, we are now in danger of a second downturn. the original stimulus mainly worked in restarting or maintaining consumption. now, that is not sustainable because we consume too much. we consume nearly 70% of the gdp goes for co
who raised the gas tax as governor, and pushed for higher sales taxes? jerry brown. who tried five times to raise property taxes in oakland? jerry brown. who supported higher statewide income taxes? jerry brown. and who says, if elected, he'll ask voters for even more new taxes? jerry brown. governor jerry brown, again? hide your wallet. >>> well, when it comes to extending the bush tax cuts, george soros is one billionaire who says, no thank you. the investing legend famously liberal...
324
324
Nov 12, 2012
11/12
by
KNTV
tv
eye 324
favorite 0
quote 0
that is substantially higher tax rate than the 15% tax rate that toward are enjoying right now. either way, we think that dividend yields will ultimately get dinged. as you mentioned, they have gotten hit. they were down something like 3% and the week ending just before the election. even in anticipation of that. it's hard to know. remember, a lot of dividend stocks are held in tax-exempt accounts, 401(k)s, pensions, endowments, foundations. we are dealing with a subset here. my sense is we will not sie a pull back because a lot of dividends aren't taxed to the extent you would think. >> good to have you on the program. thank you so much. >> thank you, maria. >> up next on the "wall street journal report," he runs what some think is the strongest bank. what will life be life under president obama's next four [ male announcer ] how can power consumption in china, impactports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our
that is substantially higher tax rate than the 15% tax rate that toward are enjoying right now. either way, we think that dividend yields will ultimately get dinged. as you mentioned, they have gotten hit. they were down something like 3% and the week ending just before the election. even in anticipation of that. it's hard to know. remember, a lot of dividend stocks are held in tax-exempt accounts, 401(k)s, pensions, endowments, foundations. we are dealing with a subset here. my sense is we...
61
61
Jul 28, 2014
07/14
by
KNTV
tv
eye 61
favorite 0
quote 1
not been able to do broad tax reform. you do it in a one-off and add to an already 70,000 page u.s. corporate tax code, a complete mess and they'll find another way to get around it. get acquired by a foreign company or find other loopholes to go through. this would not help our corporate tax system and i think obama is trying to score political points by wrapping patriotism. >> alison, do corporate leaders hear this? what do they think about it and how do they respond? >> my sense of the responders of what you said is however, i think there's something wrong. grant it, i agree we have way too many hope holes. if you get rid of those and lower the corporate tax rate testimony make us very competitive. i think it's something wrong with making all of your money in the american economy without paying taxes that are lower in other country country. then you should perhaps try to do the same business you generate in the united states in other countries. >> what these companies are doing, they're trying to tell with their overse
not been able to do broad tax reform. you do it in a one-off and add to an already 70,000 page u.s. corporate tax code, a complete mess and they'll find another way to get around it. get acquired by a foreign company or find other loopholes to go through. this would not help our corporate tax system and i think obama is trying to score political points by wrapping patriotism. >> alison, do corporate leaders hear this? what do they think about it and how do they respond? >> my sense...
238
238
Sep 8, 2011
09/11
by
KNTV
tv
eye 238
favorite 0
quote 0
tax cuts to the middle class. and here's the other thing i want the american people to know, the american jobs act will not add to the deficit, it will be paid for and here's how. the agreement we passed in july will cut government spending by about a trillion dollars over the next ten years. it also charges this congress to come up with an additional 1$1. trillion in savings by christmas. tonight i am asking you to increase that amount so it covers the full cost of the american jobs act and a week from monday i will be releasing a more ambitious deficit plan, a plan that will not only cover the cost of this jobs bill, but stabilize our debt in long run. [ applause ] this approach is basically the one i have been advocating for months. in addition to the trillion dollars of spending cuts i have already signed into law, it's a balanced plan that would reduce the deficit by making additional spending cuts, by making modest adjustments to health care programs like medicare and medicaid and by reforming our tax code i
tax cuts to the middle class. and here's the other thing i want the american people to know, the american jobs act will not add to the deficit, it will be paid for and here's how. the agreement we passed in july will cut government spending by about a trillion dollars over the next ten years. it also charges this congress to come up with an additional 1$1. trillion in savings by christmas. tonight i am asking you to increase that amount so it covers the full cost of the american jobs act and a...
62
62
Dec 18, 2017
12/17
by
KNTV
tv
eye 62
favorite 0
quote 0
if you don't know who's paying a tax, don't have that tax. reduce it to 21%. it's a great thing to do, but any company that was paying 35% needed to fire its lawyers and accountan accountants. the fact is, most companies are paying on average about 28% anyway. so, the whole thing here is, they said pass this thing, we will get 3% annual growth. they get that, everyone will forget their complaints about the tax code. >> stephanie, can you run against this tax bill -- >> sure. >> -- as effectively as you claim now, when people, at least temporarily, feel like they're getting a couple bucks back? >> a couple of bucks, compared to what the people at the top 1% of the income chain are getting or corporations. look, i am not saying that corporations don't need a tax cut, but there's a way to do it and pay for it. and there's a way to reform the tax code and make it a little bit more fair. that is not what they've done here. throwing some money for the child -- you know, a couple of dollars for the child care tax credit, people absolutely need that, and that's how yo
if you don't know who's paying a tax, don't have that tax. reduce it to 21%. it's a great thing to do, but any company that was paying 35% needed to fire its lawyers and accountan accountants. the fact is, most companies are paying on average about 28% anyway. so, the whole thing here is, they said pass this thing, we will get 3% annual growth. they get that, everyone will forget their complaints about the tax code. >> stephanie, can you run against this tax bill -- >> sure....
259
259
Jan 25, 2012
01/12
by
KNTV
tv
eye 259
favorite 0
quote 0
and taxes. i'm hoping to make a contribution. but i've been extraordinarily successful. i didn't inherit that money, i made made that money. and in the process, i've put people in jobs. i'm proud of what i do and want to make a contribution to get more people to work. that's one of the reasons i'm running for president. >> what would you say to a fellow wealthy guy, mayor bloomberg of new york made his fortune in the information serves industry. he pays the highest personal income tax rate, 35%. he opposes tax provisions that allows some wealthy individuals to pay a lower rate and went on to say if it were up to him, he would end the concept of so-called curried interest. >> you know, we have a low rate for capital gains, which is roughly 15% tax rate. and there are really two reasons for that. one is that the entities that are taxed at the corporate level pay a 35% rate before the capital gain, which is the 15%. you have two layers of tax, 35 at the corporate, then 15 at the individual for capi
and taxes. i'm hoping to make a contribution. but i've been extraordinarily successful. i didn't inherit that money, i made made that money. and in the process, i've put people in jobs. i'm proud of what i do and want to make a contribution to get more people to work. that's one of the reasons i'm running for president. >> what would you say to a fellow wealthy guy, mayor bloomberg of new york made his fortune in the information serves industry. he pays the highest personal income tax...
362
362
Feb 21, 2015
02/15
by
KNTV
tv
eye 362
favorite 0
quote 0
you're not paying taxes? >> no, because we make everything ourselves. >> are you paying taxes to the city now? >> we are not. >> reporter: dave hodges owns all american cannabis club. >> do i pay the taxes on top? >> it's already included in the menu. >> she's misinformed. that conversation, i'm going to have to have when i get back to the shop. >> reporter: the all american cannabis club has never paid marijuana business tax to the city of san jose. city records show dave hodges has been noncompliant for four years. more than a half million dollars in unpaid taxes in penalties. >> i want to pay sales tax but by paying sales tax i'm admitting that i'm selling marijuana, which is violating the law. >> reporter: he's referring to federal law, and the conflict with state laws. hodges and other owners point to this language at the top of san jose's marijuana business tax return. it includes payment of the tax does not authorize unlawful business. >> it's lawful to say you can sell marijuana, we would gladly pay s
you're not paying taxes? >> no, because we make everything ourselves. >> are you paying taxes to the city now? >> we are not. >> reporter: dave hodges owns all american cannabis club. >> do i pay the taxes on top? >> it's already included in the menu. >> she's misinformed. that conversation, i'm going to have to have when i get back to the shop. >> reporter: the all american cannabis club has never paid marijuana business tax to the city of san...
85
85
Sep 29, 2020
09/20
by
KNTV
tv
eye 85
favorite 0
quote 0
remember the 2017 tax law. they wrote in so many obscure tax loopholes to benefit the wealthy they were literally scrawling in the margins of the bill at the last minute. >> it's the night we're -- we're going to be voting on the tax bill i just got the tax bill 25 minutes ago. this is the tax bill see how thick it is? [ thud ] this is what it looks like oh, no, let's look at the bill this is what it really looks like i want you to take a look at this, folks. this is your government at work. here's the bill, as it's written. here's the modifications that are in it. i can read one word. it's called -- add this language can you tell me what that word is if you can, you got better eyes than me. >> seth: they scribbled tax loopholes in the margins like a high school senior signing a yearbook "k.i.t., see you next year." trump and the people like him were protected and enriched by a rigged system. then, they got in office and rigged it even more. and now they're desperate to preserve that system, which is why they a
remember the 2017 tax law. they wrote in so many obscure tax loopholes to benefit the wealthy they were literally scrawling in the margins of the bill at the last minute. >> it's the night we're -- we're going to be voting on the tax bill i just got the tax bill 25 minutes ago. this is the tax bill see how thick it is? [ thud ] this is what it looks like oh, no, let's look at the bill this is what it really looks like i want you to take a look at this, folks. this is your government at...
137
137
Dec 6, 2010
12/10
by
KNTV
tv
eye 137
favorite 0
quote 0
tax reform. in the republican party, republicans like paul ryan are campaigning within the republican caucus for serious entitlement reform. pushback from the leadership, obviously. the level of the private conversations, which are more inspiring than what we see. >> what do we do -- what does it do for the country if we have inspiring private conversations? >> today was important that he was willing to sit down. the willingness -- i thought what he said today was quite newsworthy. he didn't commit himself to too much. he was willing to have a meeting. you don't say that unless you're willing to put a lot of stuff on the table. >> it has to start on the inside and has to be forced on the voters. it's easy to say in a poll you want all this sacrifice. most of the time, voters look at sacrifice, grab the person suggesting it and grab him in a wood chipper. politicians are turned into voters. the retired politicians are 5-1 for it. active politicians were split 50/50. this is where it begins inside.
tax reform. in the republican party, republicans like paul ryan are campaigning within the republican caucus for serious entitlement reform. pushback from the leadership, obviously. the level of the private conversations, which are more inspiring than what we see. >> what do we do -- what does it do for the country if we have inspiring private conversations? >> today was important that he was willing to sit down. the willingness -- i thought what he said today was quite newsworthy....
0
0.0
Jan 6, 2013
01/13
by
KNTV
quote
eye 0
favorite 0
quote 2
but we did save a lot of taxes. the tax issue is behind us. and now we move forward to see if we can get a reluctant president to do something about reducing our excessive spending. >> what do you say about all the division within the republican party? look at the difference between senate republicans, house republicans, the fact that speaker boehner doesn't seem to be in a position to negotiate with the white house any further. that seems to be falling all to you. how much damage does it do to your goals for the government that the republican party seems to be so divided over what you have just done on the fiscal cliff, and continues to be divided over the way forward on taxes and spending? >> well, there are divisions among senate democrats as well. in fact, i don't think there's a bipartisan -- i think there's a bipartisan majority in the senate for not raising taxes further. in other words, taking the same view that i do, which is that the tax issue has been resolved. it's behind us. so there are divisions on both sides. i mean, we can spe
but we did save a lot of taxes. the tax issue is behind us. and now we move forward to see if we can get a reluctant president to do something about reducing our excessive spending. >> what do you say about all the division within the republican party? look at the difference between senate republicans, house republicans, the fact that speaker boehner doesn't seem to be in a position to negotiate with the white house any further. that seems to be falling all to you. how much damage does it...
155
155
Aug 1, 2011
08/11
by
KNTV
tv
eye 155
favorite 0
quote 0
tax loopholes, making sure that millionaires and billionaires, large corporations, through tax reform, contribute. what you see the republican party largely wanting to do is ask senior citizens, college students and the middle class to pay all the freight here, and people are outraged by that. everyone's going to have to do their part here. so, in deficit reduction -- and again, this next stage, the first stage is going to be some domestic spending cuts in defense and on defense that both parties largely can come to an agreement on. not easy, but a first stage. second stage is going to be a discussion in congress about things like tax reform and entitlement reform. our view is, things like social security and medicaid, you know, they can't be part of the solution here unless you've got a balanced package that includes tax reform. >> so, we're still at a stalemate when it comes to that, in terms of that second stage. another option that's been talked about and there's been pressure from democrats, is invoking the 14th amendment.cc1: this is a key piece of the 14th 1:ndment, "the validi
tax loopholes, making sure that millionaires and billionaires, large corporations, through tax reform, contribute. what you see the republican party largely wanting to do is ask senior citizens, college students and the middle class to pay all the freight here, and people are outraged by that. everyone's going to have to do their part here. so, in deficit reduction -- and again, this next stage, the first stage is going to be some domestic spending cuts in defense and on defense that both...
48
48
Apr 21, 2014
04/14
by
KNTV
tv
eye 48
favorite 0
quote 0
tax system only taxes overseas earnings of u.s.-chartered companies. what jared is proposing is that we need to beef up the taxation of those u.s.-chartered companies on their foreign earnings in the hope that they'll invest at home instead of abroad. but the problem is that investments can also be done through foreign-chartered companies. those would remain completely tax free as long as they're investing abroad. >> if you really want to make it a much more fair system particularly for small businesses who can't afford to have legions of accountants looking through things, isn't the solution to come up with a simpler, broader, more realistic tax form that doesn't allow a lot of the loopholes to begin with? maybe lower the rates but make it much more difficult to take off anything that you can start writing off or crazy loopholes that exist right now. >> look, i for one totally agree with that. and so one of the ways to do that was to just have a minimum tax on foreign earnings boom. that's the end of it. at the same time you're right. close the loopho
tax system only taxes overseas earnings of u.s.-chartered companies. what jared is proposing is that we need to beef up the taxation of those u.s.-chartered companies on their foreign earnings in the hope that they'll invest at home instead of abroad. but the problem is that investments can also be done through foreign-chartered companies. those would remain completely tax free as long as they're investing abroad. >> if you really want to make it a much more fair system particularly for...
131
131
Oct 11, 2010
10/10
by
KNTV
tv
eye 131
favorite 0
quote 0
i make my tax returns public. i paid my state treasurer's salary in taxes and getting a refund because of a widely known business failure and i'm giving that money to charity. >> were you aware of some of the loan activities to criminal figures? >> the way a community bank does business -- i know when you run for office, these stories get sensationalized. when a bank decides who to give a loan to they look at the credit worthiness of the borrower, credit score of the borrower, appraisal value of a property. any bank -- of course, there are individuals that we may not want to do business with, but that doesn't represent the thousands of people -- >> my question, mr. giannoulias, were you aware that there were crime figures getting loans from your bank? you were a loan officer there. >> if i knew now what i know -- if i knew then what i know now, these are not the kind of people we do our business with. >> you're say iing you didn't know? that's the easy question. did you know they were crime figure that is your ban
i make my tax returns public. i paid my state treasurer's salary in taxes and getting a refund because of a widely known business failure and i'm giving that money to charity. >> were you aware of some of the loan activities to criminal figures? >> the way a community bank does business -- i know when you run for office, these stories get sensationalized. when a bank decides who to give a loan to they look at the credit worthiness of the borrower, credit score of the borrower,...
150
150
Oct 4, 2012
10/12
by
KNTV
tv
eye 150
favorite 0
quote 0
federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax. it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions. the same idea behind bowles simpson, by the way, get the rates down, lower exemptions to create jobs. because there's nothing better to get to us a balanced budget than to have more people working, earning more money, paying more taxes. that's by far the most effective and efficient way to get this budget balanced. >> jim, you may want to move on to another topic, but i would just say this to the american people. if you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion, just to give you a sense over ten years, that's more than our entire defense bu
federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax. it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions. the same idea behind bowles simpson,...
87
87
Feb 25, 2013
02/13
by
KNTV
tv
eye 87
favorite 0
quote 0
this the only tax. i think we should have no more taxes. we just did a huge amount of taxes. this one is going to raise a lot more money than they realize. a lot of people -- >> fairness. >> change the revenue, change their income to capital gains versus ordinary income and pay much lower tax. one thing i don't think we're talking about very much is the fact that the interest payments on the debt are going to skyrocketo become normalized once again. the former hedge fund manager who a came on the show who you referred to moments ago talking about the fact rates right now are making everything look totally manipulated because they are such low rates. once rates normalize, we're talking $500 billion in interest payments for the united states to actually finance the debt. that's going to make $85 billion look like a drop in the hat. >> when the rates go back up we have $500 billion -- >> it's about the bond market. the bond market is a funny thing. so far the markets have not been reacting to any of this. >> bond markets haven't been reacting. >> at some point, the bond market i
this the only tax. i think we should have no more taxes. we just did a huge amount of taxes. this one is going to raise a lot more money than they realize. a lot of people -- >> fairness. >> change the revenue, change their income to capital gains versus ordinary income and pay much lower tax. one thing i don't think we're talking about very much is the fact that the interest payments on the debt are going to skyrocketo become normalized once again. the former hedge fund manager who...
244
244
Nov 21, 2011
11/11
by
KNTV
tv
eye 244
favorite 0
quote 0
we'll do tax reform before next december. we'll do tax reform for business. we could lower the corporate tax rate. we could wind up with a major initiativto create jobs, avoid the sequester, show that america works, if they will just back off insisting that the bush tax cuts be extended now. >> i want to ask you about presidential leadership. the president, after the debt decle of the summer, said this to the american people. >> i realize that aft what we just went through, there's some skepcism tha repubcans and democrats on the so-called sur committee, this joint committee that's been set up, will be able reach a compromise. but my hope is that friday's news will give us renewed sense of urgen that committee will have this administration's full cooperation. and i assure youe'll st on it until we get the job done. >> hearing that last portion, even though it wasn'tn the screen, is very important. the president saying we will stay on it until we get the job done. republicans i talked to, democrats i talked to, say the white house has been hands-off when it ca
we'll do tax reform before next december. we'll do tax reform for business. we could lower the corporate tax rate. we could wind up with a major initiativto create jobs, avoid the sequester, show that america works, if they will just back off insisting that the bush tax cuts be extended now. >> i want to ask you about presidential leadership. the president, after the debt decle of the summer, said this to the american people. >> i realize that aft what we just went through, there's...